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Risk aversion in the large and in the small

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  • Haug, Jørgen
  • Hens, Thorsten
  • Woehrmann, Peter
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    Abstract

    Estimates of agents’ risk aversion differ between market studies and experimental studies. We demonstrate that these estimates can be reconciled through consistent treatment of agents’ propensity for narrow framing.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0165176512006039
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    Bibliographic Info

    Article provided by Elsevier in its journal Economics Letters.

    Volume (Year): 118 (2013)
    Issue (Month): 2 ()
    Pages: 310-313

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    Handle: RePEc:eee:ecolet:v:118:y:2013:i:2:p:310-313

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    Web page: http://www.elsevier.com/locate/ecolet

    Related research

    Keywords: Risk aversion; Narrow framing; Laboratory experiments; Market studies;

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    References

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    Cited by:
    1. Frey, Bruno S. & Gallus, Jana, 2013. "Aggregate effects of behavioral anomalies: A new research area," Economics Discussion Papers 2013-51, Kiel Institute for the World Economy.
    2. Frey, Bruno S. & Gallus, Jana, 2014. "Aggregate effects of behavioral anomalies: A new research area," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 8(18), pages 1-15.

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